Average Employee Turnover In Real Estate

It’s become an all too common occurrence to be ringing and emailing your Real Estate agency asking to speak with your property manager, only to find out they have left the company.

Sue, Kelly, Simon, and… do you even remember the name of your current one? According to the Australian Bureau of Statistics, the average employee turnover rate in Real Estate annually is 28.3%.

To put this into perspective, this is 10% higher then the national average and second only to Hospitality and Food Services which has an annual turnover of 40.3%.

Understandably Landlords are frustrated with the quality of service and communication delivered by the transient culture of Property Managers. Unfortunately, this culture is passed down from the top where a sales focused agency only has one thing in mind; list, list and list.

Typically agencies hire young kids at minimum wage and throw them into a full portfolio of 200 odd properties without any property management experience whatsoever. These inexperienced property managers quickly fall behind, make mistakes, hide their errors which quickly snowball and spend most of their days getting abused because they don’t know what they are doing and most quit within three to six months.

Without proper guidance and training, an inexperienced property manager could be costing your biggest investment hundreds or thousands of dollars per year.

Here at 44 Home the owners of the company are also your property managers. With nearly 20 years of experience and advanced systems and software in place, we can offer an unparalleled service that the bigger franchises can’t match. To get a free rental appraisal or transfer of management, talk with us about our competitive management fees.